Albert Dweck Refinances $3.1M Multifamily Property In Brooklyn With Brad Domenico @progress.capital
FINANCED
$3,100,000
New York
See Similar DealsMultiFamily5,940 SF
Financed 02/22/2019
FINANCED
Albert Dweck Refinances $3.1M Multifamily Property In Brooklyn With Brad Domenico @progress.capital
54 Cumberland Street, Brooklyn
See Similar DealsMultiFamily5,940 SF
Financed 02/22/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$521
Total Square Footage:5,940 SF
Transaction Type:Loan
The multifamily property located at 54 Cumberland St in Brooklyn was recently refinanced for a loan amount of $3,100,000. The transaction took place on February 22, 2019, with the landlord, Albert Dweck, representing Duke Properties. Jay Shah from Metropolitan Bank provided the loan for the refinancing. The deal was facilitated by Brad Domenico from Progress Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Address: 54 Cumberland St, Brooklyn
Albert Dweck, the landlord and representative of Duke Properties, successfully secured the loan through Jay Shah at Metropolitan Bank for the refinancing of the multifamily property. Brad Domenico, a broker from Progress Capital, assisted in facilitating the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,100,000.00
Monthly NOI$20,666.67
Monthly Debt Service$19,594.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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